The collapse of Detroit’s giants is a tragedy, affecting tens of thousands ofcurrent and former workers. But the best way to offer them support is directly,not by gerrymandering the rules. The investors in these firms are easilyportrayed as vultures, but many are entrusted with the savings of ordinarypeople, and in any case all have a legal claim that entitles them to dueprocess. In a crisis it is easy to put politics first, but if lenders fear theirrights will be abused, other firms will find it more expensive to borrow,especially if they have unionised workforces that are seen to be friendly withthe government.